We knew it was coming, but this month we now have the first-ever conviction for failing to comply with FATCA. The US government with help from other countries in what reads like an international James Bond type movie thriller, complete with undercover agents in a sting operation, has shown that they will aggressively pursue those […]

IRS FATCA Registration FAQ12 provides the following guidelines on the FFI renewal deadline extension. Participating FFIs (including Reporting Model 2 FFIs) that have otherwise complied with the terms of the FFI agreement (including, since January 1, 2017, the current FFI Agreement) have until October 24, 2017, to renew the FFI agreement and continue to be treated as […]

2016 marked the 30 years since I launched US Tax & Financial Services in London. We celebrated this milestone with parties in London and Zurich. It was wonderful catching up with old friends while meeting some new ones too. I have seen a lot of changes since 1986, not only in US tax compliance but in business […]

Given the surprise outcome of the US election last week, we can anticipate changes in US tax laws going forward. Whether or not President-elect Trump will be successful in passing his new outlined tax legislation remains to be seen, but with a Republican majority in Congress, the path now appears more straightforward. Our current Lame […]

We recently posted an article titled: You can run but can you still hide? Please find my thoughts on the subject below: At long last the US Department of the Treasury, Financial Crimes Division has set wheels in motion for new Money Laundering Rules/Know Your Client (KYC) rules similar to those practiced by Foreign Financial […]

We recently posted an article by one of our guest contributor’s from The Wolfe Law Group. Please find my thoughts on the subject below: “I agree with Mr. Wolfe’s assessment of the situation. Only I believe the US Treasury Department and congress will go one step further and will more than likely start requiring full […]

My Heart Bleeds…Wake up America! The USA continues to lead it’s charge for transparency in all tax matters, as yet another Swiss Bank is finalizing negotiations with the US Internal Revenue Service (IRS) and expects to pay a fine to US authorities as part of a deferred prosecution agreement for helping Americans evade taxes. It […]